This research was coordinated by Horacio Salerno, former commissioner of the Merger control was introduced in Argentina in September 1999, with the enactment of Act 25,156. Co-operation between Competition Agencies and Regulators in the Financial Sector: 10 years on from the Financial Crisis, 2017. On the other hand, the CNDC has entered into conversations with the Public Prosecutor’s Office to exchange information and documents, and discuss assistance in investigations, for cases involving both collusion and corruption offences. The merger between two giants in the oil and gas, petrochemicals and energy markets - Petrobras and Pecom - was approved in Argentina by the Argentinean Competition Authority. Comments and suggestions have been received from international organisations (such as the OECD and the World Bank), competition agencies from other jurisdictions (such as Mexico, Spain, Peru and the European Union) and representatives of the private sector. IV. Ford Transit sales decreased in the United States while increasing in Canada, Mexico, and Argentina during the first quarter of 2021. the Argentinian competition authority, prospective merging parties -be it national or foreign investors-, consumers in the potentially affected markets, and the society at large) that Argentina abandons its slow, inefficient, and discretionary post-closing merger control regime and . The guidelines provide some examples of risky situations for an association, such as: To cope with those risks, the guidelines provide a list of ‘dos and don’ts’. Jacqueline Grise, analysis of vertical and horizontal relations among economic agents in the market. The new OECD Guidelines on Corporate Governance of State-Owned Enterprises provide an internationally agreed benchmark to help governments assess and improve the way they exercise their ownership functions in state-owned enterprises. Aimee Imundo In March 2020, the CNDC approved guidelines for market studies that the CNDC may commission to external consultants.6 The purpose of the guidelines is to set a framework of analysis and a quality standard that will regulate the relationship between the CNDC and the external consultants. Christine Laciak and Von Wobeser y Sierra, SC, Jorge Quintero Quirós Found insideCompetition Laws' and the 'Understanding on Cooperation among the Competition ... of Argentina on the cooperation between their competition authorities ... The jury shall pre-select and make a short list of three candidates for each of the positions of the members of the National Competition Authority to be filled and shall send them to the National Executive Power’ (Section 20, the LDC). The updated guidelines also clarify the criteria that the CNDC uses to evaluate possible defences. Addressing Competition Challenges in Financial Markets, Session 3 of the 2017 Latin American and Caribbean Competition Forum). 1,271/2013). Found inside – Page 209Argentina and Chile conduct ex ante merger controls. On the contrary, and with the exception of one sector (electricity) the competition authority does not ... The National Ministry of Health ("MoH") is the main health authority in Argentina. Paloma Alcantra In the framework of the global pandemic caused by SARS-CoV-2, and given both the decrease of cases and the increase of vaccination in Argentina, through Decree 494/2021, the National Government has established new preventive measures applicable between 7 August and 1 October 2021, inclusive, attuned to those that were last implemented by means of Decree 413/2021. Argentina's progress in competition policy has also been uneven, having been affected in many ways by the country's turbulent political and economic history. Kyle Donnelly As regards market shares and concentration, the new guidelines provide thresholds to explain when an operation is unlikely to cause competition concerns. I - OVERVIEW OF ANTITRUST LAW. 4. Second, the softening of competition that may occur when a firm holding a minority share of one firm acquires control of a competing firm. Argentina: Competition Authority. First, the average time of analysis has been reduced to four months for operations notified in 2018. On the other hand, two possible theories of harm that were not included in the 2001 guidelines have been made explicit in this update. The guidelines explain that a high market share for a sufficiently long period of time is a necessary, although not sufficient, condition for the existence of a dominant position. Burns Charest LLP, David L Hanselman, Jr, Eimskip and the Icelandic Competition Authority have reached a settlement in the competition case that has been under investigation for the past years, where the main period of investigation was 2008 to 2013. The CNDC returned to the international arena, it was the ICN-World Bank Competition Advocacy Contest Winner twice (2017-2018) and, for the first time, Argentina was invited to the OECD Competition Committee. National Commission for the Defence of Competition. It will be fully operative 60 days after its legal constitution. In addition to the four new guidelines discussed in this article, the CNDC has two additional projects in the pipeline: a document providing guidance on M&A notification and exceptions to notification; and a document explaining how the CNDC carries out market investigations and what is to be expected from those procedures. Only the abuse of such dominant position is illegal. The enactment of the LDC in May 2018 constitutes a major milestone in competition policy in Argentina. Mark Angland and Prosecutor: Terrorists behind Argentina's AMIA bombing to be brought to justice. She was an assistant professor of economics at the Torcuato Di Tella University from 2005 to 2012 and at the University of Wisconsin-Madison from 2003 to 2005. Look Inside. Norton Rose Fulbright, Margaret Segall D'Amico Professional associations, on the other hand, group professionals of the same discipline and have powers to regulate certain aspects of the professional activity. This excellent volume provides case studies of some of the more substantial new competition authorities written by former or current top agency officials and academics closely connected with those institutions. For competition in Argentina, 2018 will be remembered as a key milestone year. Competition guidelines constitute one tool to increase predictability and limit the authority’s discretion. Argentina for example announced to suspend deadlines in all files pending before the Argentine Antitrust Commission for two weeks. Antitrust Division, US Department of Justice, Russell Damtoft Marco López Volio and Below, we comment on the innovations introduced in the updated guidelines, as compared to the previous version. The ANC is composed of a Competition Tribunal comprising one chairperson and four tribunal members in charge of deciding on clearing, conditioning or blocking M&A, imposing fines for antitrust infringements and issuing pro-competitive recommendations; and two secretaries, one for anticompetitive conducts and one for merger control, with prosecution and investigation powers. . Instead, it is enough to come up with a reasonable theory of harm and show that there is no reasonable theory demonstrating that no harm is being caused. This is the second edition of the acclaimed text on global antitrust law. During the past two years, Argentina’s competition authority has issued four competition guidelines. recommendations to fix prices, allocate markets or clients, rig bids or limit output; decisions that affect entry to, or exit from, a market; set up internal policies and compliance programmes and foster the adoption of similar policies among their members; avoid purchases, sales or fee collections in the name of, and under instruction of, members; adopt best practices for meetings, including detailed agendas and minutes; safeguard non-discrimination and impartiality principles for membership; and. The authority manages radio frequency, issues licenses to operators, promotes the innovation of equipment, maintains competition, and promotes investment into the media and entertainment industries. Guidelines are pieces of soft law that are used by competition authorities for two main purposes. Third, the guidelines for analysis of exclusionary abuse of dominance cases explain when a practice would be considered an abuse of dominance and when efficiencies can be a valid defence. He is a professor of civil and commercial societies and elements of commercial law at the University of Buenos Aires Law School and a professor of financial regulation at the School of Economics and Business of the National University of San Martin. 211 of 1973 and its subsequent amendments (" DL 211 ") establish the main legal framework for antitrust matters in Chile. In December 2018, the CNDC published the first competition guidelines for business and professional associations. Spanish Competition Authority (Madrid) Spain 12 contributions 8829 visits. Only the abuse of such dominant position is illegal. As a first step, the guidelines describe the objectives of a market study. On the other hand, the competition authority focuses on the entire economy. The last section of the guidelines provides some examples of practices that may constitute an abuse of dominance according to Argentina’s Competition Law and provides guidance on how each case would be assessed by the CNDC. Finally, a special reference to market definition in cases of multi-sided or platform markets is made. The implementation of the recommendations and the increased awareness of the negative impact of bid rigging, together with the effective enforcement of the competition law by Argentina's competition authority, will help Argentina fight bid rigging in public works and . The new law addresses this issue by providing that the threshold would be updated annually following the evolution of the Argentine Consumer Price Index. Kevin C Adam, Bennett Jones LLP, Arlan Gates, Second, the guidelines for business and professional associations explain the risks that those organisations bear regarding competition law and what they can do to minimise these. This is the first book to offer an in-depth analysis of this complex scenario. On May 31, 2021, the Italian Competition Authority ("Authority") opened a proceeding against the Italian unit of the tobacco giant British American Tobacco, i.e., the company British American Tobacco Italia S.p.A. ("BAT Italia"), and influencers Stefano De Martino, Cecilia Rodriguez, and Stefano Sala-all three of whom, according to the Authority, have commercial relationships with BAT Italia. Second, the guidelines for business and professional associations explain the risks that those organisations bear regarding competition law and what they can do to minimise these. Israel created the Israel Competition Authority (originally called the Israel Antitrust Authority) in 1994 to enforce the competition law. 6 CNDC, General Guidelines for Market Studies, approved through CNDC Disposition 8, dated 6 March 2020, available at www.argentina.gob.ar/sites/default/files/lineamientos_generales_para_estudios_de_mercado.pdf. First, the theory by which an M&A operation may have an impact on the factors that facilitate collusion, facilitating or hampering tacit or explicit collusion in the market. Eva Warden 5 CNDC, Guidelines for the Analysis of Cases of Exclusionary Abuse of Dominance, May 2019, available at www.argentina.gob.ar/sites/default/files/guias_abuso_posicion_dominante.pdf. Both business and professional associations, by bringing together companies or individuals that compete in the market, may become a favourable environment for anticompetitive practices and, hence, must be vigilant and ensure compliance with competition law. 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